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QS 13-14 Dividends on cumulative preferred stock LO C2 Green Planet Corp, has (a) 5,800 shares of cumulative 12% preferred stock! with a $2 par

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QS 13-14 Dividends on cumulative preferred stock LO C2 Green Planet Corp, has (a) 5,800 shares of cumulative 12% preferred stock! with a $2 par value and (b) 22,900 shares of common stock with a $0.01 par value. During its first two years of operation, Green Planet declared and paid the following total cash dividends. Compute the dividends paid each year to each of the two classes of stockholders: preferred and common. Year 1 total cash dividends Year 2 total cash dividends $ 620 $2,290 Common Cumulative Preferred $ 620 $ Year 1 Year 2

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